Swing Trading Best Readings.pdf

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1、AGuideToTheTradingGameIsyourinvestmentportfoliogettingyoudown?Havingtroublesleepingatnightbecausethoselong-termholdshaveturnedintoshort-termmisery?Ifso,perhapsit'stimetotryyourhandatthetradinggame.Youjustmightfindit'sabetterwaytoplaythefinancialmarkets.Youdon'thavetostartbiginordertotrade

2、.Beaware,though,thatSECregulationsrestrictanymarginaccountwithlessthan$25,000inassetsfromexecutingmorethanthreedaytradesoverafive-dayperiod.Ifyoubuyandsellwithinadayafourthtimewithinthatfive-dayperiod,youraccountcouldbefrozenfor90days.Thispatternday-trading(PDT)rulecanbeveryfrustratingwhe

3、nthemarketturnsagainstyouandgettingoutistheonlyviablesolution.Ofcourse,youdon'tintendtobecomeadaytrader,butthat'snottheissue.Swingtradersopenmanypositionsthatneedtobeterminatedaheadofschedulewhenstopsgethitormarketconditionsturnsour.Theseexitstendtocomeinclusters,forcingmanytransactionsov

4、ershorttimeperiodsandexposingyoutotheSEC'sunwantedprotection.TherearefouroptionsfornewtraderstogetaroundthePDTrule:·Gettheaccountsizeabovetherestrictedlevels.·LimittheaccountactivitytofallwithinSECguidelines.·Trademarketsinwhichtherestrictionsdon'tapply,suchasfuturesorcurrencies.·Holdstoc

5、kslongertoavoidgettingtheaccountflagged.Currencybrokersattractlegionsofundercapitalizedtradersbecausetheyallowextrememarginandverylowaccountsize.Thisindustryiscriticallyunderregulatedandlacksacentralorderbookthatensuresyou'regettingthebestpriceforyourexecution.Myadviceistoavoidcurrenciesu

6、ntilthetheimplementationofacentralclearinghouse.Futuresareasecondalternative,buttheyalsohaveabuilt-indisadvantage.Deep-pocketedprofessionalsdominatethepopularGlobexindexfutures.Thesetradershavespentdecadesperfectingtheircraft;thelittleguystandsalmostnochanceofsurvivinginthecutthroatenviro

7、nment.Idon'tbelieveit'sagoodoptionfornewtraders.Thatleavestheequitymarkets.Realistically,you'llneedtoopenanaccountwithatleast$35,000toavoidpatternday-tradinghassles.Thatsumwillprovideanamplecushion,becauseyou'regoingtolosemoneyrightoutofthegatewithyournewhobby.There